Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Computations of Basic and Diluted Net Earnings Per Share

The computations of basic and diluted net earnings per share for the third quarter and first nine months of 2017 and 2016 are as follows (in thousands, except per share amounts):

	Three Months (13 Weeks) Ended						Nine Months (39 Weeks) Ended
	Sept. 30, 2017			Oct. 1, 2016			Sept. 30, 2017			Oct. 1, 2016
Basic net earnings per share:
Basic net earnings	$	254,850		$	305,447		$	934,797		$	636,632
Earnings allocated to participating securities		(900	)		(1,034	)		(3,239	)		(2,115	)
Net earnings available to common stockholders	$	253,950		$	304,413		$	931,558		$	634,517
Average shares outstanding		320,096			319,737			320,253			319,444
Basic net earnings per share	$	0.79		$	0.95		$	2.91		$	1.99
Diluted net earnings per share:
Diluted net earnings	$	254,850		$	305,447		$	934,797		$	636,632
Earnings allocated to participating securities		(899	)		(1,034	)		(3,233	)		(2,116	)
Net earnings available to common stockholders	$	253,951		$	304,413		$	931,564		$	634,516
Diluted average shares outstanding:
Basic shares outstanding		320,096			319,737			320,253			319,444
Dilutive effect of stock options and other		667			291			792			188
	320,763			320,028			321,045			319,632
Diluted net earnings per share	$	0.79		$	0.95		$	2.90		$	1.99

Anti-dilutive Stock Options

The following stock options were excluded from the computation of diluted net earnings per share for the third quarter and first nine months of 2017 and 2016 because their effect would have been anti-dilutive (in thousands, except per share amounts):

	Three Months (13 Weeks) Ended				Nine Months (39 Weeks) Ended
	Sept. 30, 2017		Oct. 1, 2016		Sept. 30, 2017		Oct. 1, 2016
Anti-dilutive stock options:
Weighted-average shares		698		—		309		1,254
Weighted-average exercise price	$	59.07	$	—	$	59.07	$	47.04